Cloud software distribution has made giant steps in recent years. Big players like Google and Microsoft have swept the tech industry with high-demand solutions that still offer new opportunities. How to build a successful SaaS product and where to start - this and more in today’s article.
The pandemic era increased the importance of remote work, which is essential for a business to resist various restrictions that COVID-19 caused. And here, cloud software products help corporations a lot in managing their infrastructure.
It is a fact that SaaS has been on top of the list of the best business models for several years now. If you have ever thought about launching a software-as-a-service business, it is the right time to start bringing your ideas into reality.
However, building a new startup from the ground is not easy, especially when it concerns the SaaS sphere. In this article, we are going through the strong and weak points of the popular business solution, but we also will share a list of SaaS product ideas that could be a great deal for your startup in 2021.
What is SaaS?
Software-as-a-service is a software delivery method that allows data to get accessed from any device with an internet connection and a web browser. A SaaS business generally hosts a platform online and provides corporates with access to its functionality, technical support, and other services on an on-demand basis. Said that users could access the software remotely.
It is to say, in this case, the software is not just a product - a company is responsible for long-term maintenance of databases, servers, and other software that allows functionality to be performed seamlessly over time and provide ongoing services to subscribers. The subscription price varies on the number of users that have access to a profile and on the amount of stored data.
Benefits of a SaaS business
The software services market is expanding fast that draws some great ideas for startups. And the reason is that the SaaS delivery model provides good benefits both for businesses and their customers. Let’s go through the main advantages a cloud-based startup can bring.
Business agility is considered the willingness of a company and its new startup ideas to adapt to changes in the business climate. And the COVID-19 pandemic clearly showed the importance of it in all ways. This characteristic makes the SaaS business one of the most competitive.
Upgrading your SaaS product is much simpler than upscaling any other kind of enterprise. One of the features that reduce product prices is the improved on-demand scalability of software service solutions.
One of the most challenging things for any industry is to keep the correct maintenance system of its services. When it comes to software startups, the maintenance is up to the provider. A client’s role is to relax and let them do the needful.
Are there any disadvantages of SaaS business models?
To be clear, every kind of business has its disadvantages. And the SaaS model also has risks that are important not to underestimate. Among the most emergent uncertainties are:
Security: SaaS providers are supposed to find an efficient way of securing their client’s data when allowing flexible remote access to the service;
Servers safety: in case the server faces technical issues or a security attack, all active users of the platform can get compromised;
Long conversion: The road to turning free users into paying subscribers usually consists of a long sales cycle, generally of several months.
However, every type of risk evaluation brings the awareness of how to move towards a successful business plan and what step to take next.
Five Bright Ideas for a SaaS Startup
Social Media Management
Statistics say that much of the time spent on the web is devoted to social media. Increasingly, brands see social media posts as an efficient way to promote and engage their brand. Many tools speed up the marketing workflow by covering multiple social media and scheduling tasks in one place.
A bright example is ContentCa, a B2B SaaS content marketing platform designed to help brands build their online presence. It includes social media post automation, scheduling, and analytics.
Planning of the Content
The need for specific tools to streamline and simplify marketing strategy process creation surged when social media became part of business tools. Since then, content planning platforms have become indispensable. They provide planning solutions, producing and analyzing the materials that you post.
CoSchedule, for instance, is a particular tool that makes the process of content research and optimization easier. It is a SaaS-based platform that allows businesses to organize and track their content.
Nowadays, virtual assistants help companies connect with their customers. These programs can handle multiple tasks, including team scheduling and resource planning.
Conversica is a prominent SaaS provider of AI virtual assistants. Marketing teams regularly use this platform to capture and manage leads.
A few years ago, a collaborative environment that combines all task lists, to-dos, and notes into a single repository was just a dream. But thanks to Notion, it comes to reality. The tool works as a web app or an iOS mobile client, with data stored on the cloud.
Notion integrates with popular tools like Trello, WordPress, Google Drive, and Basecamp. It’s perfect for businesses and individuals who work in technology fields and use multiple tools daily.
With the Covid-19 epidemic, team collaboration tools became a profitable niche for SaaS startups. Software companies now offer several tools to improve project management and increase remote worker productivity.
One of the emerging examples is Mobilize. This platform offers a private space for a business network as a community management platform.
It is essential to research the market for existing solutions before coming up with your own SaaS ideas. We have analyzed existing companies to select the most profitable software startups. It is not as easy as it sounds to start your SaaS business from a single thought.
However, the beginning of a startup is often an idea. If you found the right idea for you in this article, we did a great job. Now you can proceed with your validation and development process.